Consumer Advisory Council meeting.The Board of Governors of the Federal Reserve System Board of Governors of the Federal Reserve System The managing body of the Federal Reserve System, which sets policies on bank practices and the money supply. announced on June 3, 2005, that the Consumer Advisory Council would hold its next meeting on Thursday, June 23, 2005. The meeting, which was open to public observation, took place at the Federal Reserve Board's offices in Washington, D.C., in Dining Room E on the Terrace level in the Board's Martin Building. The Council's function is to advise the Board on the exercise of its responsibilities under various consumer financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. laws and on other matters on which the Board seeks its advice. Time permitting, the Council planned to discuss the following topics: * Truth in Lending Act The Truth in Lending Act is contained in Title I of the Consumer Credit Protection Act (15 U.S.C.A. § 1601 et seq.). The CCPA is designed to assure that every customer who needs Consumer Credit is given meaningful information concerning the cost of such credit. * Information security * Community Reinvestment Act Community Reinvestment Act (CRA) Enacted by Congress in 1977, the CRA encourages banks to help meet the credit needs of their communities for housing and other purposes, particularly in neighborhoods with low or moderate incomes, while maintaining safe and sound operations. and community development Reports by committees and other matters initiated by the Council members were also discussed. The Board invited comments from the public on any of these matters. |
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